According to a broker note seen by this publication, the lender said that its tracker products remained on sale.
There are 18 fixed rate products across its three product ranges, which are standard, limited company and houses in multiple occupation (HMO) and multi-unit blocks (MUB).
Fleet said that all applications must be fully completed with fees paid by midday today to secure the rate being applied for.
The firm said that it would relaunch its full product range in the next few days and details would be shared imminently.
When contacted by this publication, Fleet confirmed the above details were correct.
Lendco removes deals citing ‘severe volatility’ in capital markets
Lendco said that due to a “return of severe volatility in the capital markets” it would repricing its products shortly.
It said that for applications in train in its existing buy-to-let product signed applications needed to be sent to the lender by 5pm this evening to secure a product from its existing range.
The company said that its new repriced product range would be available after the Bank Holiday weekend.
It apologised the short notice withdrawal but said that it was “unavoidable”.
Lendco was contacted for comment.
The withdrawals have been attributed to inflation figures not falling as much as expected, with inflation contracting to 8.7 per cent in April. This is down from 10.1 per cent in the prior month.
This consequently led to swap rates increasing as expectations around interest rates changed, with the two-year swap rate now standing at 5.05 per cent, up from around 4.7 per cent earlier this week.
Five-year swap rates stand at 4.5 per cent which is an increase from around 4.3 per cent earlier this week.
The figures are based on Chatham Financial figures at 10:15 am this morning.
Swap rates are a crucial aspect of mortgage pricing, which could mean that there are more lender product withdrawals and pricing in the coming days.
Brokers have expressed frustration at short-notice product removals, saying that it was accepted as necessary to protect service levels and due to volatility from the mini Budget, but it was creating stress and impacting their work-life balance.
